Top 5 Bad Credit Loans in Canada

Top 5 Bad Credit Loans in Canada

If you have a bad credit score, securing a loan can be challenging. However, several lenders in Canada specialize in offering bad credit loans, providing an opportunity for individuals with less-than-perfect credit to access the funds they need. Here are the top 5 bad credit loan providers in Canada, each with a detailed review, rating, and a direct link to apply.

1. Borrowell

Overall Rating: 4.8 stars
Customer Service: 4.9 stars
Interest Rates: 4.7 stars
Ease of Application: 4.8 stars

Borrowell is one of Canada’s leading fintech companies, providing easy and quick access to personal loans for individuals with bad credit. Borrowell offers personalized loan recommendations by leveraging their free credit score monitoring service. This ensures that borrowers are matched with the best possible loan options based on their credit profile.

Borrowell’s application process is entirely online and can be completed in just a few minutes. They offer competitive interest rates and flexible repayment terms. Borrowers appreciate the transparency and the lack of hidden fees, making Borrowell a trustworthy option for bad credit loans.

Apply directly with Borrowell here.

2. Fairstone

Overall Rating: 4.6 stars
Customer Service: 4.7 stars
Interest Rates: 4.5 stars
Ease of Application: 4.6 stars

Fairstone is a well-established lender in Canada, known for providing personal loans to individuals with poor credit. With over 240 branches across Canada, Fairstone offers both secured and unsecured loan options. They specialize in working with borrowers to find loan solutions tailored to their financial situation.

Fairstone’s application process is straightforward and can be started online. They provide personalized service, with loan specialists available to assist borrowers through the process. Their competitive rates and flexible terms make them a reliable choice for those needing bad credit loans.

Apply directly with Fairstone here.

3. LoanConnect

Overall Rating: 4.5 stars
Customer Service: 4.6 stars
Interest Rates: 4.4 stars
Ease of Application: 4.5 stars

LoanConnect is a loan aggregator that connects borrowers with a network of lenders offering bad credit loans. By filling out a single application, borrowers can receive multiple loan offers tailored to their financial needs and credit profile. This makes LoanConnect an excellent resource for comparing loan options and finding the best rates.

The platform is user-friendly, and the application process is quick and easy. LoanConnect’s network includes lenders who specialize in bad credit loans, ensuring that borrowers with low credit scores can still find suitable loan options.

Apply directly with LoanConnect here.

4. EasyFinancial

Overall Rating: 4.4 stars
Customer Service: 4.5 stars
Interest Rates: 4.3 stars
Ease of Application: 4.4 stars

EasyFinancial is known for its willingness to work with borrowers who have poor credit. They offer personal loans with flexible repayment terms, and their application process is designed to be quick and hassle-free. EasyFinancial provides both secured and unsecured loan options, making it accessible for a wide range of borrowers.

Their customer service is highly rated, with loan specialists available to guide applicants through the process and help them understand their loan terms. EasyFinancial also offers financial education resources to help borrowers improve their credit scores over time.

Apply directly with EasyFinancial here.

5. Mogo

Overall Rating: 4.3 stars
Customer Service: 4.4 stars
Interest Rates: 4.2 stars
Ease of Application: 4.3 stars

Mogo is a digital finance company offering a variety of financial products, including personal loans for individuals with bad credit. Mogo’s application process is entirely online, and they provide instant pre-approval, making it easy for borrowers to know their loan options quickly. Mogo offers competitive rates and flexible repayment terms.

In addition to loans, Mogo provides free credit score monitoring and financial education resources to help borrowers manage their finances better. This holistic approach makes Mogo a valuable option for those seeking to improve their financial health while accessing the funds they need.

Apply directly with Mogo here.


Finding a loan with bad credit can be challenging, but these top 5 lenders in Canada provide viable options for borrowers with less-than-perfect credit scores. Each lender has its unique strengths, and by comparing their offerings, you can find a loan that best suits your financial situation. Always remember to read the terms and conditions carefully before applying and ensure that you are comfortable with the repayment terms.

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